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QUESTION
Assume the graph below represents the market demand for a patented prescription drug together with the long run marginal cost and average cost
Document attached with graph for this question:Assume the graph below represents the market demand for a patented prescription drug together with the long run marginal cost and average cost functions for producing the drug. (note: the diagram assumes that at output levels over 50 million AFC ~ 0, and MC is constant so that ATC = AVC =MC = $20)A)
